HOME

TheInfoList



OR:

PT Aneka Tambang Tbk, colloquially known as Antam, is an Indonesian mining company. The company primarily produces gold and nickel, and is the largest producer of nickel in Indonesia. Until 2017, Antam was a directly
state-owned company A state-owned enterprise (SOE) is a business entity created or owned by a national or local government, either through an executive order or legislation. SOEs aim to generate profit for the government, prevent private sector monopolies, provide goo ...
, before its ownership was transferred to PT Mineral Industri Indonesia (Persero) or MIND ID, a government-owned holding company.


History

Antam was established in 1968 by the Indonesian government under
Suharto Suharto (8 June 1921 – 27 January 2008) was an Indonesian Officer (armed forces), military officer and politician, and dictator, who was the second and longest serving president of Indonesia, serving from 1967 to 1998. His 32 years rule, cha ...
by merging multiple state-owned mining companies. It became a
limited company In a limited company, the Legal liability, liability of members or subscribers of the company is limited to what they have invested or guaranteed to the company. Limited companies may be limited by Share (finance), shares or by guarantee. In a c ...
in 1974, and began listing in the
Jakarta Stock Exchange Jakarta Stock Exchange (JSX; Indonesian: Bursa Efek Jakarta (BEJ)) was a stock exchange based in Jakarta, Indonesia, before it merged with the Surabaya Stock Exchange to form the Indonesia Stock Exchange. History Originally opened in 1912 unde ...
in 1997. In 2017, its ownership was transferred from the Indonesian government (which controlled 65 percent of the company's shares) to Inalum in a move intended to create a national holding company. Due to a government ban on the export of unprocessed ores, Antam began construction of smelter facilities for ferronickel and alumina. In 2020, it was announced that Antam would form a joint venture with
Pertamina PT Pertamina (Persero) is an Indonesian state-owned oil and natural gas corporation, headquartered in Jakarta. It was created in August 1968 by the merger of ''Pertamin'' (established 1961) and ''Permina'' (established in 1957). In 2020, the ...
and PLN to form an
electric vehicle An electric vehicle (EV) is a motor vehicle whose propulsion is powered fully or mostly by electricity. EVs encompass a wide range of transportation modes, including road vehicle, road and rail vehicles, electric boats and Submersible, submer ...
battery company, to be dubbed Indonesia Baterai. Antam's position in the venture is as a provider of upstream raw materials and metals. There are plans for the company to partner with Contemporary Amperex Technology and
LG Energy Solution LG Energy Solution Ltd. (LGES; ) is a battery company headquartered in Seoul, South Korea. LGES is one of the largest battery makers in the world alongside CATL, Panasonic, SK Innovation, and Samsung SDI. History LG Chem Energy Solution Busi ...
in two projects worth US$ 12 billion. In January 2025, six former Antam executives were charged with corruption for alleged mismanagement and fraudulent activities involving 109 tons of gold between 2010 and 2022, causing losses of Rp3.31 trillion ($203.19 million). The
London Bullion Market Association The London Bullion Market Association (now known simply as LBMA), established in 1987, is the international trade association representing the global Over The Counter (OTC) bullion market, and defines itself as "the global authority on precious ...
is also reviewing the allegations against Antam. Antam denies producing counterfeit gold.


Operations

As of 2015, Antam was a producer of
bauxite Bauxite () is a sedimentary rock with a relatively high aluminium content. It is the world's main source of aluminium and gallium. Bauxite consists mostly of the aluminium minerals gibbsite (), boehmite (γ-AlO(OH)), and diaspore (α-AlO(OH) ...
,
ferronickel Ferroalloy refers to various alloys of iron with a high proportion of one or more other elements such as manganese (Mn), aluminium (Al), or silicon (Si). They are used in the production of steels and alloys. The alloys impart distinctive qualitie ...
,
gold Gold is a chemical element; it has chemical symbol Au (from Latin ) and atomic number 79. In its pure form, it is a brightness, bright, slightly orange-yellow, dense, soft, malleable, and ductile metal. Chemically, gold is a transition metal ...
,
nickel Nickel is a chemical element; it has symbol Ni and atomic number 28. It is a silvery-white lustrous metal with a slight golden tinge. Nickel is a hard and ductile transition metal. Pure nickel is chemically reactive, but large pieces are slo ...
and
silver Silver is a chemical element; it has Symbol (chemistry), symbol Ag () and atomic number 47. A soft, whitish-gray, lustrous transition metal, it exhibits the highest electrical conductivity, thermal conductivity, and reflectivity of any metal. ...
. It is Indonesia's largest producer of nickel, and it lost considerable amounts of revenue and profits following a nickel ore ban. Antam's gold operations was the primary contributor of the company's revenue, making up 71 percent of its Q1 2018 revenue. Antam is the only Indonesian gold refiner to be accredited by the
London Bullion Market Association The London Bullion Market Association (now known simply as LBMA), established in 1987, is the international trade association representing the global Over The Counter (OTC) bullion market, and defines itself as "the global authority on precious ...
.


References

{{authority control MIND ID Companies based in Jakarta Indonesian companies established in 1968 Non-renewable resource companies established in 1968 Companies listed on the Indonesia Stock Exchange Companies listed on the Australian Securities Exchange 1997 initial public offerings Companies in the IDX 30 Companies in the LQ45